RVNC - Earnings call transcript Q1 2020 | Revance Therapeutics, Inc.

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Operator

Welcome to the Revance Therapeutics First Quarter 2020 Financial Results and Corporate Update Conference Call [Operator Instructions].

As a reminder, this call is being recorded today, May 7, 2020.

I would now like to turn the conference over to Jeanie Herbert, Senior Director of Investor Relations and Corporate Communications of Revance. Please go ahead, ma'am.

Jeanie Herbert

Thank you, Stacy.

of call Mark Revance Toby Foley; Operating and the Chief President Schilke; on Operations, Officer Officer, Product Executive Chief President us today is from and Chief Dr. Joining and R&D Financial Officer, Abhay Therapeutics, Sjuts. Joshi; and Dustin and Officer Aesthetics Commercial Chief of

XX, Revance results March today, first quarter for Earlier the released ended financial XXXX.

section If to receive the Relations to list to the be future the received please of company's www.revance.com. news to or release which found this not website, added you've you like go releases, can would Revance's at distribution Investor be

During financial including and of strategy this results with distribution TEOXANE estimates our Revance's potential conference and call, related financial plans; business candidates, planned management respect candidates will to operations; make forward-looking XXXX and and development technologies. product agreement; statements anticipated statements, guidance; pre-commercial product clinical the launch to and

the based expectations statements on inherently forward-looking uncertainties. company's These and significant involve current risks are and

and in materially of results and uncertainties. events actual statements timing of risks differ result forward-looking a such could the these Our anticipated those from as

as -- shortly or with of duty XX, result no in cause cautions describes you any on XX-Q results company these obligation reliance SEC expectations. changes events XXXX. a be X, include statements Form future to XXXX from statements to report May Factors undertakes statements and as different not forward-looking on XX, its Revance May new to February Form filed our forward-looking be or the place update information, undue on XX-K filed could titled on current the factors in XXXX, section in and that Risk the to Factors

now Foley. will turn call the With Mark over Mark? that, to I

Mark Foley

you I XXXX conference everyone, joining are you afternoon, successfully for the are landscape. that to and our thank call. first you financial quarter evolving Thank that safe and all you, adapting well Jeanie. Good results hope and

our COVID-XX to first on Revance crisis. responders recognize front line tribute medical and pay the we also within meals the resilience Together, need would to contributed charities and support. of the by would and for their like we personal during providing hospitals. our in of Before special efforts, we local the workers equipment their gift I these essential a times. three communities supporting I through to have like local to national In thank are flexibility local soup critical begin, others and program support weekly entire help unprecedented professionals, matching caregivers, to a to and protective providing kitchen fund organization adaptability,

as COVID-XX evolve adjusting around to will infectious all COVID-XX unforeseen which guidance becomes information govern and the Like circumstances to and implemented have ourselves caused our continue plan response and To preparedness disease find globe, end, by shelter-at-home across the available. will directives. detailed companies we a environment and U.S. this the pandemic we work that and more

adapt COVID-XX operational so Revance we from world the a financial, strength. does As to pandemic, of product portfolio new shaped and by position the

investments XX. well funded of than with billion are as and very cash in We March $X.X more

U.S. in FDA-approved we third an for the portfolio, have dermal in the We readying RHA quarter. are filler launch

Phase date for for results key top XX, Phase schedule remains PDUFA development studies Our clinical multiple November on II remain deliver line track for this Injection and for DaxibotulinumtoxinA to pivotal on and plans a trial year. our III

focused strategy continue the necessary. while previously on be positioned short, as delivering to very In adjusting environment, well communicated on we challenging remain despite our and

for anticipate dermal on the a new in we with announced to costs. revenue RHA modest force align filler the on shift, previously filler X XXXX of hiring in sales sales As March of the shifted the impact third with that In date launch by organization quarter. our along reduction light quarter XX, we

guidance. announced at in the XXXX the expense still occurring number our operating Despite the milestones landscape, has important X non-GAAP a next market anticipate in to a year come to catalyst-rich of end COVID with we challenging X Thus, previously months. lower Revance of

catalysts We clinical, continue to commercial remaining XXXX. make very good progress for achievement of towards and the regulatory the

of launch. commercial comments on our couple A pending

feel with should X that product sheet, balance a our resourced launch we will normal to quarter in and the to to market as truly needs physicians ensure tools fortunate market our or particularly to a current consumers And lines position a approach have rollout with also a more strategy. launch the we novel very First, for the right while new making aesthetic plan a With differentiated environment, we support alike. the that very practice, despite both appeal targeted believe and meet stable of third we strong we properly timing are sure customers. disruption, coincide

During members, this physicians designed key discuss care team a our moved shelter-in-place experts called quickly topics. health virtual webinars support social was and consumer a steering multiple to education committee investigators and events, strategies, advisers. implement impact, engagement program return-to-work and Over distancing other It engaged Revance's operation and we relevant period, of to market interactive engagement, to outside resilience. group and key

sessions, protocols return-to-work for eager group we is to pent-up to working focused many on to or and from place. via practical in a each connect of thanks space these already group demand which the together We and we other as heard open procedures on with best are community are program PPE, with for safety put In process practices, that Thus, creating office the heartfelt practices anticipating and certain issues for engagement logistics. distancing content, received reopening in health are social the a videoconferencing. access professional core this such care

to the in were growth XXXX. fillers slowdown with dermal elective The recession as injectable in in rebound quickly. market facial the were rather resilient shrank down to quick to growth X% in XXXX XXXX, XX% resilient. dynamics market filler hyaluronic XX%, aesthetic of and XXXX, Likewise, XXXX and of surgeries also returned U.S. aesthetics, acid were far during X% while procedures and fairly the neuromodulator plastic As U.S.

telling true pent-up regular this, their practices the on leading it's of to facial prevention accommodate leading virus which aesthetic many social a in many us injectable day. the interest taking practices and COVID-XX of to consumers. of consumer consumers, from impact they While account they weekends distancing and account these while requirements heard can To plan and for demand impact the we've the to see work predict will into strategies they are do from that practices nights difficult expect patients number given

in we off return aesthetic U.S., the to in growth second base. and then a slowdown perspective, experience followed recovery a our in lower quarter, that procedures will modest significant anticipate by QX a a QX of in the From

impact, the remain and underlying demand distancing concerns strong social associated logistics continue the forward. coronavirus, despite safety will economic the going create However, and to with growth drivers

value have account new it a where products market be more be in when RHA well than a rollout will products the expect stable QX approach, consumers our Also, time and us introducing into that taking fillers our and Fortunately received. settled at And practices for our be normal. QX novel phased strategy be much in will are product cycle, launch time targeted we for for believe into the new will launch and when our we neuromodulator, and into we at environment differentiated we proposition introducing that aesthetic a innovative that the expect we have with we will today. into a will products our we

nearest value of X drivers, commercial our terms dermal our the is X, fillers. RHA In catalyst X of our launch and

facility. which close As launch which -- COVID-XX the shared caused previously, the of quarter temporary manufacturing situation, by shifted we X a the RHA closure by fillers was our of temporary due Swiss to TEOXANE's caused

currently a and third shared that manufacturing being supply are product that in support sufficient they about We with close timing. have us reopened they third pragmatic who plan recently to facility contact our launch. to launch targeting We quarter remain while quarter their TEOXANE, have with

an the Dustin? Now Dustin over let hand provide me on commercialization update to plans. call our to

Dustin Sjuts

Thanks, Mark.

Revance to As and face this situation fortunate market timing, with strategy. unique products is Mark mentioned,

Our robust onboarding. right a team in sales the commercial phase team is with our launch flexibility planning in

to care unusual them to learn with investigators are support maximizing time this health in We this and to situation. virtually from engage professionals and key

to our and all and top engagement, regional our physician tools time are who to launch using RHA in infrastructure of to the managers, our we plan. addition of select of We've completed field In refine sales this dermal turn, web-based been talent. the progress have, to hiring training interview aspects commercialization sales and prior fillers utilizing

with are the be decisions Approximately remaining prudent quarter. on each filled a to rep for our We onboarding targeting while making the field offers the majority the timing are territories of second throughout extended XX% for mid-summer. of

hands-on key the a are fillers dermal the opinion RHA for managers our shipment With away, training few regional months first planning accounts and select of leaders. just

to place develop will our sales by in training sampling the quarter. to products is step and in hands new the of injectors broader the after technology. samples be Our in of first scheduled key meeting third program this put followed to take a product national This confidence

marketing build-out to and against progress our initiatives imperatives. launch Our continues infrastructure

have and on Europe, expertise experts and knowledge the trainers team from bring marketing to with technology. time leveraged virtual Our sessions commence faculty engagement this and education who RHA

physician multiple commercial and technologies. begun we've CRM nearing or integrated training implementing Finally, These are infrastructure service support customer tool finalization. systems operations, live systems, either including a to system, platforms

HR analytics HCP and and service and hired of customer education, as members nearly imminent new leading -- training launch complete. new members fully legal partners as welcomed training to Our new our plans. also well team is business commercial We've is team support sales

With our existing foundation prepared and place is to commercial new in the team, these addition execute. of well our hires and

know XXXX aesthetics surprisingly to appointment on that surgeries X, market elective neuromodulator the some growth are already injectable continues remain is to starting only XX%. and COVID-XX growing and during resilient market location, an with XX% depending for practices, while XXXX, was economic open situation, elective We from states began XX procedures. While spending overall recovery schedule to evolving geographic May the luxury

portfolio the has in treatment a necessity. creation As prestige our The will of category a consumers market care injectables of introduction product consider part personal of new grown, our innovative aesthetics. of many be for

compromised an are select experiences. will patient this truly to and practitioners. Ultimately, medical of products, in new their it through created transforms exceptional aesthetic available produce experience surgeons category real dermatologists services value offerings something that and give exclusively that expertly Our plastic delivers are patients to offer

only correction for X, team the dermal and and folds on X, and Overall, and focused Revance's the RHA is DaxibotulinumtoxinA wrinkles fillers our for launches next-generation anticipated neuromodulator, first of indicated track the and of Injection. dynamic FDA-approved X on

turn back Mark. that, over it to I'll With

Mark Foley

Thanks, Dustin.

we cover DaxibotulinumtoxinA at date, me our launch for have for our commercial headquarters with that our Revance produced is will integrated PDUFA is let from planned and not DaxibotulinumtoxinA change in To Now still any vertically California. manufacturer indication year-end. received Injection. a Injection FDA date for the

and establish situation, we the portfolio range our As a RHA to physicians have result, combine or differentiated chain will to PDUFA prestige any we've a the Once fillers, alternative. XX of in work been fortunate a issues dermal of synergistic a with both continue November facial injectables segment with new market avoid COVID-XX our date. whole and with provide supply consumers Injection to to we'll toward related for production truly FDA we DaxibotulinumtoxinA and the that products

As impacted trials visits, completing to upper the been Phase face not active have are Notably, dosed two of fortunate our primary the subjects the our passed either Phase before through II final we have ASPEN-X COVID-XX. enrolled outbreak that and remotely. been have All three most points and trials programs, cervical in the the end those II assessment were plantar in-person the clinical by dystonia, of and fasciitis Phase or COVID-XX. III in fully done clinical studies of trials U.S.

limb in The challenges upper paused JUNIPER adult II is trial a single been required due subject spasticity our which time distancing. exception has of to enrollment assessments in social during Phase

new We established. will and trial is a an reopened full expected after enrollment enrollment date provide is trajectory the for

program results We ASPEN hit III for has the note remains and line open-label number, fasciitis target the Phase cervical still enrollment half whole track. expect I study its that also of cervical XXXX. dystonia plantar on to Phase ASPEN-X safety the have the dystonia II second trials in so top to want

fourth three conferences. facial complete to the feet we'll the to the lines the to in medical We forehead we quarter and crow's aesthetics the plan in at trials present facial expect upcoming second upper those As lines programs, continue results quarter. and trial

the A quick on asset. biosimilar note

a release in press with program. still the biosimilar on X, BOTOX are discussions in noted we regarding to Mylan we May As brief

want in end they by to decision Before for they a the or as recently in, review making their to response asked the not committee. of May. whether provided the with steering We data to their opt collective expect now time team

recent Toby? and have to Afterwards, quarter comments overview I'll financial a let Q&A session. over our of our closing begin few that With Toby today's call activities, to me first before we turn results. the summarize

Toby Schilke

Thank believe balance, quarter in the cash, investments $XXX.X to our million into million, first you, $XXX.X and is senior the ended short-term Mark. cash convertible issued with includes fund sufficient balance XXXX. the This Starting with we equivalents company proceeds February. which we notes we from

Revenue arrangement. Mylan accounting the included first first quarter other $XX,XXX million. the X distribution XXXX $XX $XX.X a RHA for unapproved of onetime and of charge quarter, was related recognized TEOXANE noncash the our development, the advancements in-process to allocated This consisted the collaboration. of and to purchase future In from million reflecting research relative value OpEx

was Excluding million. and depreciation, amortization, stock-based our OpEx compensation $XX.X RHA-related in-process R&D, the

won't I release go the The results outlines on issued full, call. through details so financial earnings today we this our in

XXXX that the Revance be and guidance which guidance, amortization, in shift million; million. non-GAAP to OpEx in the end $XXX $XXX operating force, the to excludes hiring of in million our and $XXX million to of to $XXX of research still issued low range. to we at million operating February, non-GAAP stock-based $XXX XXXX depreciation, non-GAAP and to expect $XX expects RHA-related expense of in-process we come XXXX XXXX both GAAP development million. Due R&D, expense, expense our GAAP As and field compensation to

our In our sales we terms revenue, determine of remains guidance of trajectory refrain future filler launch from the line. providing can RHA until policy to

progress as market. approach provide updates the We will, however, our on we

debt. were with million million XX.X outstanding approximately April convertible impact excluding shares, XX, XX.X shares Finally, the fully the diluted XXXX, as Revance's of of

With to that, turn the I'll call back Mark.

Mark Foley

we build our and to you of in the with significant is we are we clinical stated us about this X year, mounting that year, COVID-XX We front excitement launches as ahead personally manage believe product meaningful catalysts very forward remainder plans. milestones prepare to many Revance previously of The providing our we through is looking situation and the and to development as along Toby. have franchises. you, Thank aesthetics excited to to out positioned well look way. updates therapeutics minimal I'm the and for very commercial And the with the disruption

I questions. that, open the With for will now up Operator? call

Operator

[Operator first your Instructions] comes Fargo Wells And Securities. Hughes, Jacob question from

Jacob Hughes

So a of I wondering -- was couple questions.

when for is expect the get you some from manufacturing Just how additional color given you're right inventory where corona And what do you virus filler thinking standpoint? just you can and launch to to DAXI? then on levels? and And give associated all, a do bundling TEOXANE about given get to the dynamics, pricing -- secondly, the economic with

Mark Foley

So question. great

So down recently did on prepared them. Similar to and could had we've with a communication virus. They've to mentioned in so manufacture. remarks, been and our they as supply, manufacturing the they shut in shelter here, the TEOXANE due reopened facility, routine they their in first place, us

So our their for launch. feel provide they product good very us ability about QX to

launch current about good very feel that we timing. So

we'll of we think to But necessity we of to our that closer don't a pricing get market. share going there's strategy. in sort right approach. terms In overall We're our now, be very when be going and to the that change bundling, targeted to again,

to If they're try fewer office for they at of there, the through. And seeing even patients, these as you there's look have incentive and today, result, a social a them demand not sort practices huge distancing frankly coming as the is fewer of discount requirements. though visits because

our we'll that, in put still marketplace. have thinking is time. previously once provide holds, ease that that strategy in on place that more over expect pricing that the the We and we're will But details current we

Operator

comes And next Sachs. question Flynn, Goldman from Terence your

Unidentified Analyst

following have past end would you in up audience far How And products. prep in you the the commercial is [Missy] kind on I'm work? to your are what know many much would for along target you guys you're And that, your that say kind you versus and higher Terence. how is of customers on your of targeting fixed variable? -- are I size that how of of both prescribing competitors? of relative This costs mentioned then for the say

Mark Foley

great [Missy,] question. So

the in first the So originally to were we on one launch QX. preparations, planning commercial

And frankly, product, in have weren't going we and aggressive became pretty So we terms When from that were logistics with XX, delayed the COVID a shelter standpoint. apparent the and managers. of lot we made obviously, progress sales infrastructure we needed place, working started pretty a had the good launch entire in on everything path time of on place that we a to have bringing tight field of had organization. line. the our to moving in of We hiring our sales regional down it

So managers XX others. we there's which of place, then those, we and in held largely of have the regional the on

investments be and time side ship it. more us products on lot that systems But frankly, extra made needed were of we're this to going we bit in opportunity that given a revenue. of And of fully ready sure to recognize to make the little that has an a

have cost So able board, any And to launch of product. the now, a been we're the of we shift reps we've sales reps the to that's onboarding incurring. those on QX don't coincide with to not right so currently that

that context with a XXX-ish of and kind of reps. type we're terms And a of we've of limit to on. accounts to that the start can call of number size color that size, market, In the the going there's result, given said because reps obviously of as

in and injector we're premium we to products going going because marketplace, be busier of on, so be that And into to prestige higher the call these or targeted naturally and the end or they're accounts we're bringing the sort practices. the physician

for that accounts of have that feel we position a very and and of we a will the good market portion can actually from a those XXX good number to of the that exactly know for manage sense of don't we'll each strength. but with enter what allow to them reps that us I handle, And so is, market you give

Operator

next your Barclays. And Balaji question Prasad, comes from

Balaji Prasad

me. A couple from

you're a current you $X.X changing the to face you opportunistic it's COVID position issues? more do in activities go think with see of Firstly, development good cash And Do a for billion influence with as the situations, time businesses flow shopping? cash. than other any business potential

Mark Foley

I company. to buyers mean, that assets going can to think of we're I of disciplined value always be we think Well, add sort the

a got that there going certainly we've really So where are strategy. even but assets be market. the some in might true we that's our not like little cash position, necessarily It's attractively though a strong change today injectable that to we're more positioned priced,

We team think field synergy of we've leverage got a two great and where practices. and assets there's with the our with ton

I so products. first be number recognize And of certainly, success launch that very really going go and there in sure think to But factors ultimately contribute making a those that we're from ensure on, to good can different foremost, the two forward, as marketplace. a focused we we are that we

make right looking therapeutics a And aesthetics then we building we and franchise kind value, at sense if We're find think world-class forward a franchise. absolutely. and the things that that of out to are

so opportunistic about And we making thoughtful place. and got our in we we've will very the continue while right to disciplined forward, be priorities being move as sure also

Balaji Prasad

launch this purely any just question, being And a wanted QX. launch for a in question on RHA XXXX? RHA on moved in change is X also the a there or strategy? on I related there impact of -- is Secondly, timing is understand of change the to to if

Mark Foley

good so to take the XXXX that. about the looking approval, that of still a as one we're RHA latter I'll The at feel first. X, continue we So timing

program We've no starting the On the talked good before about into a of and a launch. to of move past launch, next to of our sort in for with RHA build kind get user the experience really the overall strategy base change. sampling phase we always

no place we got right point, put few I with a launch. and Again, think the ensure time, this at that's this But change still very feel tools extra of are to much we've able more to in intact. in like materials strategy. we sort

continue the be very mindful course, we'll Of to environment. of

different we like to states comments, returning talked about see to coming to people we're do. do what patients our prepared starting that online, in we obviously As starting they see and

months by to in launch So things of time coming benefit normal. we a we'll couple the September, the back of of have

those anticipating And certainly sensitive now, but right our not any things, so we'll change strategy. be we're to in

Balaji Prasad

final provided Mylan? was versus to to that What in the Just impression biosimilar for mentioned there some Mylan, about? for one your you I data recently. them was also, on you on And backup plan data under one sets updates BOTOX. terms any nothing remarks prepared of to in it provide and -- was you that

Mark Foley

first very I be think continue off, So by encouraged program. to we this

with or work, natural agency. of I having -- where us biosimilar not in with the and the think that this about of give had was we And program. a true obviously there a characterization XXX(k) to continued questions encouraging we whether it's started lot pathway, through got some dialogue confidence

a have us been just committees before the there to final we've terms some while Mylan giving is May, to for we really information make time that mean really they In wanted sure they a of decision decision. I the both delay now by in together no, review closely of the obviously additional end provided appropriate working And have that the steering that was with recently This decision them together, them. the well sides. been being big opt-in working

that so the been a partner, we've with we So also we results, have confidence getting think progress lot great to we made program a look Mylan and their forward lot a feel has of in but and it. of

Operator

Samimy, from your question next And Annabel comes Stifel.

Annabel Samimy

good their So your engage staying of Mark, sort and pretty assess mood front in KOLs to readiness. of you've them and been

the going see reconcile be physicians other a first that around the there's will distancing tremendous demand of able we social they're the And they have potentially How to likely You they through that? appropriate will you that go these how have think these point to a flow And mention to [indiscernible] a the talked have two? with they to. commentary I that are that lot to demand. I accommodate a product can about need how office? of physicians do pent-up slower recovery lot the that guess was because wanted of not

new So bit program sort market from launch, a wait that? to to these is of recover ready When a implement that launch? filler will you have to longer practices think for you little sampling for about potentially a the

Mark Foley

patients. myopic physician off we So that sort bit the are I all little maybe area live, there? that's but to through what get different. each little you're having for going you So easy on for the bit going not a process there's ensure to right? on hearing stack a they steps out and been first more side, that the be the if the safe that to first So they're think same, create safe is is distancing a the to that harder, of of a are it's is state bit the and thing clean area work another a obviously across all based that, I different. York effort And or board, pretty find little are you fair think environment universally that I environment, New said hit their in a much patients taking think But

a see a a bottleneck. so of bit that that not given they're in many created as a able And at is level were they as so patients little high what means before to day, it's

weekends. some I try think maybe hours going work to some have hours, this, or longer more and to are even flexible address

can early a of a they that of terms have we're is their this move no phase, day. most limit in in now just through right the patients, have number given hearing in practice shortage what that so And they

that's going over And evolve to so I think time.

try more think more what care as a what will is they out than with I'm a they probably demand this of to and get deal I figure comfortable, plays get and take patients sure larger out they way comfortable, can today.

the then fact be throughput. we probably being time the until the have an bit of launching approved ways by that will there that more figured this to later evolution. that is they out September not hit think to won't we and we a our until our neuromodulator filler be the going And so market, And little address some year,

To the We've filler neuromodulator going which to time first, launching like first I heard probably facial to to that recover neurotoxin? with your the than that injectables, the question good the across new with thing. certainly on in wanting are is an this landscape but a doubt same versus some filler, be a whole be no to regards interest There's will a the think fillers. aesthetic expressed start has ones and

Having said that, we are out Patients place. this. way filler to know Physicians it. a to going to take find procedures are will an in do safely going interest have that

frankly, very sort going be this, phased we there. think these targeted with And with it's we're going to so fillers working that going a be And far even of going very our are to that have And be it accounts figured working quarter behind. aligns launch with thought going behind. We're comfortable be to their way out around this. with do strategy. to it's And neuromodulator our that We're very launch with leaders. is not a only though to

in actually that value much through so day as that a the with long-duration going with would practice, in we important a patients about environment more I to certainly a think longer that have want even But what can and number today's neuromodulator. to the proposition note, And and one thing and consumers long as much that is we value can. you time deliver really distancing believe only limited acting the they move is both with of profile social physicians resonate we've talked

how no feel continue the hopefully, terms that about good we there. strategy, in level, color see market you we our gave right a And high So now. to change more of little bit

Operator

Mizuho Your next Securities. Difei question comes from Yang,

Daniel Clark

Difei. Clark for on Dan is This

me. from one Just

a say you've been what back data? to comprehensive Mylan the point, you On Or decision, they you them? that given you do this at come for would there's in chance could asking think more you've pretty

Mark Foley

this. Yes, feel good with very we

we right. understand both the get And decision a by of this expect sort I discussions importance May. end to our think of the through them, final we with

Operator

Blair. Lugo, question William Tim Next

Tim Lugo

Annabel's aren't sessions that that you a assume on part to to a about expect reach I to as Congratulations hearing of to and be they're question initial I to navigating going kind part of new of [indiscernible] training launch and is you're the marketing new do as when almost me the to therapy maybe normal launch? training of with physicians. market filler a assume the in be the through you'll Can from focus guess, walk kind addition bit? have efforts difficult practices amenable deploy When for I physicians, of you that up environment. seminars following kind physician team Mark, training what kind just of likely sampling. the

Mark Foley

adapt I everybody, mean having training in-person; training have think so two, sort on to and products. like then of X One, own our and training our physician remote and I new programs, right? internal our and for with we're for Yes, tools,

line this And of because and the product, requirements to we getting be, excitement incorporated it's so going either we're need doubt people some of on accomplish are There's that there. going targeting be have well-known we effectively going and believe in that be to that or them in-person already there's injections. with many And to pretty understand, I talked whatever remotely. think no of that about new there's can that familiar with be to sort colleagues group this pretty but filler need their training lot are a product hands Europe a any to subtleties to

how readjustment sort So they this about think require terms a of it. of to isn't in huge going

We'll off ready And start that to that there. excited for what's excited we the physicians so that line right offering to really remote way product be about a get sort their about required. we consumers go that's those and can program either them we of new training or are to be something good think can effective if the provide we believe

certainly, well. think that, last get our that's then interest. an Again, look out and And a we don't as this. there's dosing that afterwards, there's to likewise, soon interest if in -- people be II go neuromodulator, to lot well, of back studies obviously got of as into people have something tremendous there as to Phase And way there going going a Phase patterns. we amount there's think create as have office a using particularly to We've around I studies obviously longer at and III are X they

we to creative to So be to this again, that good feel there, navigate have able really the tools environment. to we'll going but be have we're

Tim Lugo

to over patients assessment with on dystonia of maybe side physicians still all at assessments can't that the patients that top And And a any come protocol-defined cervical windows for there have the line in COVID? TWSTRS of expected handling their to missed maybe the number the do been in their pivoting if therapeutic execute second execute may have half them you given how on trial? able for aren't on or plan data the year,

Mark Foley

the this side. mentioned, on trials, fully wrap that or that need we number of sort that that I to No, There we follow-up, through as going of even need remote to enrolled minimum of the all data think, past still some we either able now but to we open-label the need. in the we patients get we're think We're kind we're up. that were in-person be to

that fortunately, an not for us. been So issue has

Operator

from Next Cowen. [indiscernible], question comes

Unidentified Analyst

for And we X be you we secondly, should would you timing opportunities? forehead of looking talk the results plans near if what your could of for and the media it? could as such your is, programs, question and about marketing line for results? terms in remind for canthal DTC what And as social first us My be these

Dustin Sjuts

thanks So -- on the the question. for

obviously, market. On definitely consumer the drives the DTC side, I think, physicians demand

that making on is first practices are focus However, physicians with aligned technology. the outcomes the thing experience those and to the got the have with we've sure

and our outcomes. the then leverage So DTC product physicians on around the think the demand. RHA the together. with combination uniqueness components and they both the are our with of that right a And story two they profile time, those that strategy and themselves pull-through look products, trained, the some they've to been are individual consumer also compelling we'll we've that -- be, We of focusing got product, first, sort DAXI, we'll have of at making will of sure digital focus

On the on second question, it's the...

Mark Foley

canthal and lines. the forehead on lateral It's the

available that our face, full so time completed and the that and data have forehead, we've will canthal neuromodulator II lateral all So the approved. trials those we by got be the upper Phase

provide and going data are and around additional injection those details patterns, sort dosing of everything. so And to

but efficacy again, the areas. sort other XX-day on dosing the into in go we not And that are additional used an market, have have focused of our the largely information studies, time how more of around the from they'll by the these SAKURA got we've are only is information there. really because this So they'll making efficacy, of these sure again, sort products right

of will combination So where this all most the we of address physicians the think inject. areas

Operator

from Your next Seamus comes Guggenheim. question Instructions] Fernandez, [Operator

Seamus Fernandez

about be be just you the to us as help for look more I'm with today, aggressive to seems wondering you environment it more physicians like the thought the satisfy getting really with opportunity me through a aggressive to just have just even working And launch their you've can considering launch. maybe it to Mark, because optimal going seems whether get or you situation harder as unique It this understand. stands patients. are at

acting You've here. got a longer treatment

you if that of actually the I potentially know this uptake? crisis in midst So more and don't see there's faster drive opportunities to

maintaining second then for about of thinking of understand asset opportunities you're of think out-licensing a can as overall the global versus and Revance question to just the pushes pulls we how it the help control as just company? you And out-licensing as thoughts about us potential relates is DAXI,

Mark Foley

Yes, Seamus, voice. great questions. Good to hear your

phase really look anchored what make go a terms So we this sort back of strategy in feel need and that of and sure launch. we the really that We get it ramp, of at strongly with just first, strong our you the trying in on foundation with new to early these launch accomplish physicians. to we're product, if

programs, some changes getting happen. technique any And to give for so that opportunity we comfortable. tweaks that sampling If that there's that or getting in means

a And so accelerate to important launch position. as be we a skip the what result, I take opportunity don't what that, over and could really think to think we want an is necessarily

market there that unexpected benefits overall be and there's of always potential more Having neuromodulator, classic some segmentation. unintended a at with was felt we in wanted it we but and something Certainly, market looked profile before long-acting a like would said the that longer COVID-XX. consumers received, well that, acting certainly in context today, this that obviously exist didn't

extent sure in patients, this these many only the is trying work market think consumer compensated the see price So trying to we going on they're frame, the in to certainly, reality we where, very that change. to offer doing, markets and a minimize a can't think take today, continue you certainly, will that frequency that that. of way this in the is have side, they And and is we this physicians they're to as has the the differentiated product can make for that well. that to if that get again, in performance profile, fairly evolve The visits practice, to are resonate you time tend

we're by the so to we time the product the And be like really market, in back again, new might normal. some And profile. we

coverage the once in some in build So marketplace, see we revisit of it. If we our said of necessarily overall the of pace continue the don't strategy sort toggle to right now, Having pools sales sort anchor uptake. a exist we we'll or obviously our the change accordingly. force will foundation, launch these of that,

some think There we look U.S., winning think for control terms the aesthetics and this U.S. that is of that them outside lend we'd to second rights find and that's strategy, about of the as the we had But the us might themselves directly. to for partner both you The of still where U.S. the outside that, we at question them the good like the in that therapeutics. to how strategy overall, outside be partner, a global look in the to partner and a with U.S., will markets We product the it. managing

the outpaced sort we program has where aesthetics on therapeutic were The of side. always

the and going pain the read-through lot focused CD more more muscle that move the and So But data and the the side. commercial plantar important bring lot year, into fasciitis, on for back have read-through half readouts as and fasciitis plantar now a disorders and dystonia think to is the front and program program a our we we of we on therapeutics center. disorders on really movement we two cervical

dig I think the that's how opportunities. in on be a And so therapeutics program bit the right to little deeper and for going us time we about think do to

into the And half will time so I a of that, a come bit on back spending in clarity of little but think the we're that lot more year.

Operator

are no there And further questions.

Mark Foley

you'd June, using committed and attend Goldman to conferences Blair are We keep Healthcare in thank plan welcome I In to to out base. and calls please operator. shareholder With in you. base. Sachs the you, Growth the your touch next to over and that, all to call, today's request if touch in with you Thank Great. technology stay for these reach times, travel-constrained we including like for would virtually, Please Jeanie William few to participating Conferences our safe. months. like Thank near-term

Operator

calling. for you Thank

may disconnect. You now

Revance Therapeutics (RVNC) 10 May 202020 Q1 Earnings call transcript